Akero Therapeutics (NASDAQ:AKRO) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Akero Therapeutics (NASDAQ:AKRO) posted its earnings results on Friday. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.01), Zacks reports.

Akero Therapeutics Price Performance

AKRO stock opened at $49.12 on Friday. Akero Therapeutics has a 12 month low of $17.86 and a 12 month high of $58.40. The firm has a market capitalization of $3.43 billion, a P/E ratio of -13.10 and a beta of -0.11. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $38.92 and a 200-day moving average of $32.57.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AKRO shares. Bank of America upgraded shares of Akero Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $63.00 in a research note on Thursday, January 30th. Morgan Stanley lifted their target price on shares of Akero Therapeutics from $46.00 to $96.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Citigroup lifted their target price on shares of Akero Therapeutics from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. HC Wainwright raised their price objective on shares of Akero Therapeutics from $50.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Canaccord Genuity Group raised their price objective on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Akero Therapeutics currently has an average rating of “Buy” and a consensus price target of $75.86.

Insider Buying and Selling at Akero Therapeutics

In other Akero Therapeutics news, COO Jonathan Young sold 10,000 shares of Akero Therapeutics stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $32.13, for a total transaction of $321,300.00. Following the completion of the sale, the chief operating officer now directly owns 206,286 shares in the company, valued at $6,627,969.18. The trade was a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Cheng sold 25,000 shares of Akero Therapeutics stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $32.09, for a total transaction of $802,250.00. Following the sale, the chief executive officer now owns 605,417 shares of the company’s stock, valued at approximately $19,427,831.53. The trade was a 3.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,992 shares of company stock worth $9,633,413 over the last three months. 7.94% of the stock is owned by insiders.

Akero Therapeutics Company Profile

Akero Therapeutics, Inc, together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. The company's lead product candidate is efruxifermin (EFX), which is in Phase 3 clinical trials that protects against cellular stress and regulates the metabolism of lipids, carbohydrates, and proteins throughout the body for the treatment of biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH) patients.